Nord Stream 2: the final permit from the German government soon

(Nord Stream 2, Public domain)

Latvian ABLV Bank to be liquidated

Poland wants to get rid of GMO

Russia and Germany

The Interfax informs that in March 2018 the cabinet of Angela Merkel may issue the final permit to build Nord Stream 2. The portal quotes Mr. Andriy Kobolev, the CEO of the company Naftogaz Ukrainy saying “According to our information, in March the German government plans to issue the final permit to build Nord Stream 2.”

The portal also informs that Ukrainians want to accelerate their efforts to attract a western partner to the management of the Ukrainian gas transport system (GTS).

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Latvia

Latvian ABLV Bank and its subsidiary ABLV Bank Luxembourg will be liquidated – the European Central Bank has decided. As Leta agency reports, the decision was made on February 23rd in accordance with the Single Resolution Mechanism Regulation.

At the beginning of 2018 the USA accused the bank of helping North Korea despite international sanctions. The American Department of Treasury’s Financial Crimes Enforcement Network informed the bank was involved in the process of money laundering. After the information was published, the bank lost liquidity.

”Due to the significant deterioration of its liquidity, the bank is likely unable to pay its debts or other liabilities as they fall due. The bank did not have sufficient funds which are immediately available to withstand stressed outflows of deposits before the payout procedure of the Latvian deposit guarantee fund starts” the ECB concluded.

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Poland

The Polish Radio informs that the Polish Agriculture Ministry is planning a bill that will reduce genetically modified soy in livestock feed. Poles want to get rid of GMOs in animal feed and boost the domestic production of crops with high protein content.

As reported, 70 per cent of animal feed in Poland is now based on genetically modified soybeans. All the members of the European Union import over 30 million tons of soybeans annually. 90 per cent of it is genetically engineered.

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What’s up in indexes

BET (of Bucharest) increased from 8,290.73 index points Thursday, February 22nd to 8,354.75 index points Friday, February 23rd. It’s up 0.77 per cent d/d and up 3.85 per cent y/y.

BUX (of Budapest) decreased from 38,643.99 index points Thursday, February 22nd to 38,240.09 index points Friday, February 23rd. It’s down 1.05 per cent d/d and up 13.98 per cent y/y.

CROBEX (of Zagreb) increased from 1,823.49 index points Thursday, February 22nd to 1823.61 index points Friday, February 23rd. It’s up 0.01 per cent d/d and down 16.69 per cent y/y.

OMXR (of Riga) increased from 1,014.68 index points Thursday, February 22nd to 1,021.34 index points Friday, February 23rd. It’s up 0.66 per cent d/d and up 36.98 per cent y/y.

OMXT (of Tallinn) increased from 1,283.97 index points Thursday, February 22nd to 1,290.09 index points Friday, February 23rd. It’s up 0.48 per cent d/d and up 15.98 per cent y/y.

OMXV (of Vilnius) increased from 668.16 index points Thursday, February 22nd to 669.62 index points Friday, February 23rd. It’s up 0.22 per cent d/d and up 19.60 per cent y/y.

PX (of Prague) decreased from 1,108.30 index points Thursday, February 22nd to 1,104.96 index points Friday, February 23rd. It’s down 0.30 per cent d/d and up 13.66 per cent y/y.

SAX (of Bratislava) closed at 328.64 index points Friday, February 23rd. It’s the same result as Thursday’s. It’s 0 per cent change d/d and 6.79 per cent y/y.

SOFIX (of Sofia) decreased from 687.83 index points Thursday, February 22nd to 687.26 index points Friday, February 23rd. It’s down 0.08 per cent d/d and up 13.30 per cent y/y.

UX (of Kyiv) increased from 1,493.33 index points Thursday, February 22nd to 1,495.73 index points Friday, February 23rd. It’s up 0.16 per cent d/d and up 60.18 per cent y/y.

WIG20 (of Warsaw) decreased from 2,410.69 index points Thursday, February 22nd to 2,406.11 index points Friday, February 23rd. It’s down 0.19 per cent d/d and up 6.65 per cent y/y.

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